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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents, unrestricted $ 266,400 $ 105,684
Restricted cash 5,195 4,000
Total cash, cash equivalents and restricted cash 271,595 109,684
Short-term investments 209,391 300,676
Total cash and cash equivalents, restricted cash and short-term investments 480,986 410,360
Student receivables, gross 79,618 84,599
Allowance for credit losses (37,133) (39,917)
Student receivables, net 42,485 44,682
Receivables, other 1,900 2,873
Prepaid expenses 8,078 8,209
Inventories 1,178 596
Other current assets 2,517 341
Total current assets 537,144 467,061
NON-CURRENT ASSETS:    
Property and equipment, net of accumulated depreciation of $110,648 and $101,380 as of September 30, 2021 and December 31, 2020, respectively 25,838 27,761
Right of use asset, net 38,793 44,773
Goodwill 162,692 118,312
Intangible assets, net of amortization of $6,761 and $4,178 as of September 30, 2021 and December 31, 2020, respectively 34,109 15,522
Student receivables, gross 4,239 3,533
Allowance for credit losses (2,889) (2,230)
Student receivables, net 1,350 1,303
Deferred income tax assets, net 30,413 40,351
Other assets 6,080 6,434
TOTAL ASSETS [1] 836,419 721,517
CURRENT LIABILITIES:    
Lease liability-operating 10,036 9,789
Accounts payable 12,650 13,259
Accrued expenses:    
Payroll and related benefits 22,764 22,661
Advertising and marketing costs 10,749 10,249
Income taxes 3,565 1,402
Other 17,596 11,921
Deferred revenue 57,051 34,534
Total current liabilities 134,411 103,815
NON-CURRENT LIABILITIES:    
Lease liability-operating 37,732 43,405
Other liabilities 18,891 18,390
Total non-current liabilities 56,623 61,795
STOCKHOLDERS' EQUITY:    
Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued or outstanding
Common stock, $0.01 par value; 300,000,000 shares authorized; 87,908,259 and 87,264,910 shares issued, 70,105,521 and 70,062,364 shares outstanding as of September 30, 2021 and December 31, 2020, respectively 879 873
Additional paid-in capital 670,497 658,423
Accumulated other comprehensive (loss) income (3) 364
Retained earnings 227,506 142,335
Treasury stock, at cost; 17,802,738 and 17,202,546 shares as of September 30, 2021 and December 31, 2020, respectively (253,494) (246,088)
Total stockholders' equity 645,385 555,907
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 836,419 $ 721,517
[1] Total assets do not include intercompany receivable or payable activity between institutions and corporate and investments in subsidiaries.